During compliance activities, our compliance officers may contact taxpayers to request certain information. As part of this process, we may inform the taxpayer that an EOI request can be submitted to a foreign tax authority for any international information that has not been provided.
The process for sending an EOI request to a treaty partner is:
- the compliance officer completes an EOI template to initiate the request
- the request is assigned to an EOI case officer who ensures
- a relevant tax treaty is in place to cover the requested information
- there is foreseeable relevance between the information requested and the audit activity being undertaken
- all domestic information gathering options have been exhausted
- an endorsed EOI request is prepared for Competent Authority approval and is endorsed if the request meets the required protocols of the relevant treaty
- the request is sent to the other jurisdiction's Competent Authority
- the EOI case officer will follow up on the EOI request with the other jurisdiction's Competent Authority when necessary
- the EOI case officer will arrange a teleconference for the requesting team and the other jurisdiction's Competent Authority to expedite the EOI request when necessary
- the treaty country responds to Australia's Competent Authority who sends the international information to the requesting team. This is reviewed and incorporated into the compliance activity as appropriate.
The incoming EOI process is:
- Australia’s Competent Authority receives and ensures incoming EOI requests from other jurisdictions satisfy the requirements of the relevant treaty
- the request is assigned to an EOI case officer who reviews and processes it
- the EOI case officer may
- gather information from internal databases
- issue formal notices to financial institutions to request banking information
- liaise with compliance officers to obtain documentation from third parties and/or the taxpayer
- the EOI case officer prepares a response and, following approval from the Australian Competent Authority, sends it to the foreign tax authority.